Decentraland Virtual Land Sold for $913K, A New All-Time High

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Decentraland, the first fully-decentralized virtual world with a non-fungible token (NFT) known as “LAND” has been sold for $913K in 259 parcels.

The platform is like a virtual real estate investment firm operated under Ethereum blockchain. The said virtual digital asset was purchased through MANA, the in-game digital currency.

According to a report provided by NonFungible, the sale is the largest within the history of Decentraland in dollar terms, outpacing the $704,000 deal that was recorded last May 28.

NonFungible ranks Decentraland also as the fourth-largest NFT project through weekly sales volume and hosting $1.3 million value of NFT transactions over 335 trades for the past 7 days while ranking at sixth spot when it comes to incomparable volume, hosting $64.6 million value of trades over nearly 126,000 transactions.

BUYER INFO

The buyer of the digital asset is a popular online investor known as “Republic Realm”. It is an investment platform who buys and diversifies real estate digital assets. They focus on the acquisition, management and development, and sale of virtual land across existing metaverses.

In their recent tweet, Republic Realm said that they can’t wait to announce their future plans regarding the virtual estate. The company further added that its commitment to build and develop Metaverse was at an all-time high.

Yield Guild Games (YGG) a Filipino-led company/community who focuses on acquiring diversified play-to-earn games digital assets had recently raised over $4 million in their Series A led by BITKRAFT Ventures, a global investment firm for gaming, esports and interactive media.

YGG also invested in Axie Infinity, a game developed by Sky Mavis, that is also backed by Mark Cuban, an American billionaire who owns NBA team Dallas Mavericks.

Aside from Axie Infinity, YGG also invested and partnered with Sandbox, F1 Delta Time, League of Kingdoms, Illuvium, & Guild of Guardians.

According to Gabby Dizon, co-founder of Yield Guild Games, “I’m very bullish on the growth of Play-to-earn in virtual economies and expect to see more crypto-native tokenomics instead of grafting the free-to-play business model into games with crypto-economies.”

This article is published on BitPinas: Decentraland Virtual Land Sold for $913K, A New All-Time High

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Sean Millare

Sean is a full-time trader who started exploring & investing in cryptocurrency in 2015 when he was still a college student.